High gas prices burning through your checking account faster than a Bugatti Veyron through premium? At least one analyst says the pressure might drop soon. Patrick DeHaan, senior analyst for gasbuddy.com thinks fuel prices have peaked for the year, with the national average sitting at $3.92 for the last week. According to USA Today, DeHaan expects average national gas price to fall to $3.70 before May.
If you're the type to send Thank You cards, keep in mind all those Toyota Prius owners who have sacrificed driving pleasure for greater fuel economy, and the leadership in Iran who have kept things kind of quiet over there for a few days. Depending on your political bent, you can also thank either the Democrats and/or Republicans for fostering a slow economy. All those elements contributed to lower oil prices and, in turn, lower gas prices. In contrast, the Federal Energy Administration is still predicting a $4.01/gal peak next month.
Either way, don't rush out and buy that gas-guzzling supercar just yet. Any number of factors could send fuel prices flaring. Meanwhile, enjoy your cheap, $3.92/gal regular while it lasts.